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Accounting for Forests in Social, Economic and Political Contexts

Author

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  • K.F Herbohn
  • J.L Herbohn

Abstract

The current paper investigates the potential implications of the emerging forestry accounting policy—in the form of Discussion Paper No. 23 (DP 23) Accounting for self‐generating and regenerating assets, Exposure Draft No. 83 (ED 83) Self‐generating and regenerating assets, and AASB 1037 Self‐generating and regenerating assets—for the accounting practices of Australian forestry enterprises in the private and public sectors. Since the forestry sector is of political, social and economic significance to a broad range of individuals and groups within society, a theoretical framework is adopted which combines stakeholder, legitimacy and political economy of accounting perspectives. In particular, the current paper is concerned with two major objectives. First, this multi‐perspective theoretical frame‐work is used to discuss the potential implications of the recent developments in forestry accounting policy in light of current forestry accounting practices, and the major economic, political and social factors operating within the forestry sector. This discussion also allows several observations to be made in relation to the due process associated with the development of accounting standards. The second objective of the paper is to use the multi‐perspective theoretical framework to discuss the results of a postal survey of forest managers’ reactions to the forestry accounting regulation. Evidence from the survey of forest managers suggested that there is opposition to mandated environmental disclosures (proposed in DP 23, but not required by AASB 1037), and the introduction of volatility in the bottom line from current market valuations (required by AASB 1037) and recognition of changes in the value of forest assets (required by AASB 1037).

Suggested Citation

  • K.F Herbohn & J.L Herbohn, 1999. "Accounting for Forests in Social, Economic and Political Contexts," Accounting Forum, Taylor & Francis Journals, vol. 23(4), pages 408-440, December.
  • Handle: RePEc:taf:accfor:v:23:y:1999:i:4:p:408-440
    DOI: 10.1111/1467-6303.00023
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    Citations

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    Cited by:

    1. Kathleen Herbohn, 2006. "Accounting for SGARAs: A Stocktake of Accounting Practice Before Compliance With AASB 141 Agriculture," Australian Accounting Review, CPA Australia, vol. 16(39), pages 62-76, July.
    2. Charles Elad, 2004. "Fair value accounting in the agricultural sector: some implications for international accounting harmonization," European Accounting Review, Taylor & Francis Journals, vol. 13(4), pages 621-641.
    3. Carlin Dowling & Professor.Jayne Godfrey, 2001. "AASB 1037 Sows the Seeds of Change: A Survey of SGARA Measurement Methods," Australian Accounting Review, CPA Australia, vol. 11(23), pages 45-51, March.
    4. Bamber, Matthew & McMeeking, Kevin, 2016. "An examination of international accounting standard-setting due process and the implications for legitimacy," The British Accounting Review, Elsevier, vol. 48(1), pages 59-73.
    5. Belinda R. Williams & Trevor Wilmshurst, 2009. "The achievability of sustainable reporting practices in agriculture," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 16(3), pages 155-166, May.
    6. Belinda Williams & Trevor Wilmshurst, 2009. "Accounting for SGARAs: Towards Comparability and Consistency," Australian Accounting Review, CPA Australia, vol. 19(2), pages 117-127, June.
    7. Herbohn, Kathleen, 2005. "A full cost environmental accounting experiment," Accounting, Organizations and Society, Elsevier, vol. 30(6), pages 519-536, August.

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